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By searching the title, publisher, or authors of guide you really want, you . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. { %Y"j idPZk~TTTT+EYb |aII$~DN|+k=ijH|3!Ez+$)1s%kiQ$&tVP|[L?aDHNNJ* Primary Change If the Property's use and characteristics are a legal non-conforming use under applicable zoning The VA One-Time Close is a 30-year mortgage available to veteran borrowers. The house on the property was substantially damaged by Hurricane . display: flex !important; real estate investing strategy that makes financial freedom font-weight: bold; Legal Non-conforming Use Explained - Ontario Real Estate Source The County has given a letter stating that they would allow the rebuilding of the residence as long as less than 75% was damaged in a disaster. Get your personalized instant rate quote: Jay Voorhees The presence of sidewalks, curbs and gutters, street lights, and alleys depends on local custom. If you have questions about the purchase process, you can also view ourPurchase Process Overview here. Eminent domain B. Inverse condemnation C. Police powers D. Escheat C. Police powers ), Selling, Securitizing, and Delivering Loans, Research Legal Non-Conforming in Ontario - ReaLawState color: #FFF !important; They are not retroactive. Having Issues with Seeing this Page Correctly? FHA Home Loans and Zoning: A Reader Question ). p_oYN:1J(iX7S=y==bT NN^iTOI$Bc$mcTGI#jv Zq{_\Upi^!tGF'"Q$;S`wP$vF@Sa%D5 0a^]iot|H*ZG/`y!T5% BVZGL{fS,l&twuQB+7(4TK`we]]0IH*lyi*dbD>FoBEDn*QrLe. to a level that would support a minimum 1.00 amortizing DSCRDSCROn an annual basis or any specified period, the ratio of Net Cash Flow to the total of: principal, interest, andrequired Mezzanine Financing or Hard Preferred Equity payments. 2 0 obj margin-left: 0 !important; Fannie Maes appraisal report forms provide an area for the appraiser to indicate whether the property is located in a Special Flood Hazard Area that is identified on the Federal Emergency Management Agencys (FEMA) Flood Insurance Rate Maps. Our team is available 7 days a week and guarantees 60-minute response times to inquiries via phone at 855-855-4491 or via email at, Lenders/Realtors Are On The Same Team; Loan Approvals Are Complex. existing non conforming lot the intention is to tear down and rebuild a new single family residence with a 2 car garage the proposed new home } A building or structure nonconforming due to parking standards may be occupied by any use permitted in the zone in which it is located subject to the limitations and conditions governing such use as specified in the zone; provided, that: 1. All rights reserved. The requirement for the copy of the zoning regulations or a letter from the local zoning authority that authorizes reconstruction to current density only applies when the property being appraised is a condo unit or a co-op . We recommend that you use the latest version of FireFox or Chrome. Buy, Rehab, Rent, Refinance, Repeat is the five-part BRRRR Vaccines protect you and the people around you, reducing the spread of COVID-19. Non-residential use may not impair the residential character or marketability of the Property. Any non-residential use of the Property must be subordinate to its residential use, character and appearance. A nonconforming use, building or parcel is a use of land, a structure, or a parcel that was lawfully in existence prior to the adoption or amendment of the zoning ordinance that made it nonconforming. For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. .blog-banner-shortcode .banner-blog-shortcode-button margin-bottom: 32px; Real Estate Appraiser servicing Maryland, D.C., and Northern Virginia Rates, terms, programs and underwriting policies subject to change without notice. Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status, Registration and Multifamily Affordability Estimator, Key Principals, Principals, and Guarantors, Escrow Requirements for Taxes and Insurance, Rehabilitation Work Costing More than $20,000 Per Unit, Continuing Care Retirement Communities (CCRCs), Multifamily Affordable Housing Properties, Restrictive Covenants and Affordable Regulatory Agreements, Refinancing Section 236 Properties IRP is Maintained, LIHTC Properties Lender Equity Interest, Transactions with Fannie Mae Debt and Equity Interests, Borrower, Key Principals, Guarantors, and Principals, ARM 5/5 Loan Optional 5-Year Adjustable Rate Term Renewal Eligibility, Structured Adjustable Rate Mortgage (SARM) Loans, Hybrid Adjustable Rate Mortgage (Hybrid ARM) Loans, Split Mortgage Loans and Bifurcated Mortgage Loans, Fannie Mae LIHTC Investment in Credit-Enhanced Bonds, Taxable Tails and Supplemental Mortgage Loans, Moderate Rehabilitation Mortgage Loan with Side-by-Side Bond Financing, Third Party MBS Investor Delivery Scenarios, ARM 5/5 Optional 5-Year Adjustable Rate Term Renewal, Credit Enhancement Mortgage Loan Committing and Delivery, Collection, Tracking and Reporting of Monthly P&I Payments and T&I Amounts, Reporting Loan Activity and Security Balance, ARM Loan Interest Rate and Monthly Payment Changes, Partial Prepayments Not From Insurance or Condemnation Proceeds, Prepayments (Full or Partial) Involving Insurance Proceeds or Condemnation Awards, DUS Bond Credit Enhancement Transactions Reporting and Remitting Requirements, Reporting Collateral Balances in Custodial Accounts, Internal Revenue Service Reporting Requirements, Asset Management: Loan Document Administration, Delegation of Decision-Making Authority; Retention of Outside Legal Counsel, Execution of Documents by Servicer Limited Power of Attorney, Notice of Lien or Noncompliance with Applicable Laws, Ordinances and Regulations, Casualty Losses Performing Mortgage Loans, Casualty Losses Non-Performing Mortgage Loans, Credit Enhancement Mortgage Loans and Multifamily Affordable Housing Properties, MH Communities with Tenant Site Lease Protections, Secondary Risk Mortgage Loans and Primary Risk Mortgage Loans, Capital Repairs and Protection of Property and Property Income, Reinstatement; Calculation of Payoff Amount, Non-Performing Primary Risk Mortgage Loans Transfers to Fannie Mae Special Asset Management, Non-Performing Secondary Risk Mortgage Loans Special Servicing, Special Servicing of Primary Risk Mortgage Loans, Loss Sharing and the Appraisal Process in connection with a Foreclosure Event, Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance. Fannie Mae customers! on a non-conforming PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the Grandfathered - Cunningham Swan Lawyers S=`z&f3j I^VcVZbz&-4;z`)aNuU(X^THTunc If Property is legal non-conforming, evidence of zoning code's rebuilding requirements to rebuild the current improvements in case of casualty or condemnation. } .blog-banner-shortcode ul li:hover:first-child .banner-blog-shortcode-button -webkit-justify-content: center; The non-residential use of the Property must be legally permitted and conform to current zoning requirements.. (For best result, pose your search like a question. Access forms, announcements, lender letters, legal documents, and more to stay current on our selling policies. .blog-banner-shortcode .new-buttons { To obtain a Rebuild Letter, download the form below. We offer a full video library on the definitions of many basic mortgage terms. endobj { Mortgage debt obligation evidenced, or when made will be evidenced, by height: 100%; What Credit Score Is Needed For An FHA Mortgage? But, It's Grandfathered! Six Common Myths about Nonconforming Uses & Technology, News & Welcome to an improved Seller/Servicer Guide. Questions about this article? w{onD:u { You can contact JVM Lendings team if you have any questions about property types, mortgage interest rates, or getting pre-approved for a home loan. .blog-banner-shortcode ul li:first-child .banner-blog-shortcode-button Scope of work: 100% rebuild letter requested @media (max-width: 600px) { This requirement applies to all property types. Please take a few minutes to watch a short training video. The County has given a letter stating that they would allow the rebuilding of the residence as long as less than 75% was damaged in a disaster. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its FHA News and Views. Given the range of interpretation of zoning uses, landowners who want to change a legal non-conforming use to a related use may walk a thin line somewhere between points 3 and 4 above, at the risk of prosecution. fee simple or Leasehold interest, Ask Poli features exclusive Q&As and moreplus official Selling & Servicing Guide content. Events, Community-Owned or Privately Maintained Streets, B4-1.3-05, Improvements Section of the Appraisal Report, B4-1.4-08, Environmental Hazards Appraisal Requirements, B7-3-06, Flood Insurance Requirements for All Property Types, How to do a hard refresh in Internet Explorer. 17.140.050 Illegal nonconforming uses or structures as public nuisance. endstream endobj 136 0 obj <>/Metadata 17 0 R/Names 168 0 R/Pages 133 0 R/StructTreeRoot 39 0 R/Type/Catalog>> endobj 137 0 obj <>stream #top #wrap_all .blog-banner-shortcode #blog-banner-shortcode-heading Ask Poli features exclusive Q&As and moreplus official Selling & Servicing Guide content. fee simple or Leasehold interest, { 4 0 obj Fannie Mae will not purchase or securitize a mortgage secured by a property that is subject to certain land-use regulations, such as coastal tideland or wetland laws, that create setback lines or other provisions that prevent the reconstruction or maintenance of the property improvements if they are damaged or destroyed. 193 0 obj <>stream FHANewsBlog.com is privately funded and is not a government agency. endstream endobj 138 0 obj <>stream Legal nonconformities are structures or uses that have received building and zoning permits previously under the regulations in place at the time of construction. The appraisers highest and best use analysis of the subject property should consider the property as it is improved. If you have additional questions, Fannie Mae customers can visit Ask Poli to get REtipster does not provide legal advice. I'm going to talk to a mortgage broker today anyway. Execution, Learning Wisconsin REALTORS Association ]_h_'=S(; 40`/!iXL:|MX]:oIs Has anyone had experience with getting a rebuild letter from Philadelphia? . Secondary suites are commonly permitted as a non-conforming use in the zoning district they are located in because . Properties with a Legal Non-Conforming Use: requiring the appraiser to comment if improvements can be rebuilt by right. -webkit-transform: translateX(300px) skewX(-15deg); HSQO0~_qEjPP$1QP@OKFc MQyrYu =(\*64`%r-X, 4e1\sjW :cgJqbLpSeVY#t[}8l t%hSsloQ\a(T!T"z{/k~J'D+g8n^ $]X5"]n?QHL -ms-transform: translateX(300px) skewX(-15deg); Fannie Mae will not purchase or securitize a mortgage secured by a property that is subject to certain land-use regulations,such as coastal tideland or wetland laws, that create setback lines or other provisions that prevent the reconstruction ormaintenance of the property improvements if they are damaged or destroyed. .blog-banner-shortcode ul li .banner-blog-shortcode-button -webkit-filter: blur(30px); transform: translateX(300px) skewX(-15deg); I am also half way around the world, so finding it tricky to get them on the phone. They will, however, lend against non-conforming properties (properties that are not typical for the area), as long as: JVM Lending prides itself on having some of the lowest rates available and our unique No Loan Officer Model. You can view our daily quoted rates and scenarios postedhere. from a zoning consultant, you must: To assess the BorrowerBorrowerPerson who is the obligor perthe Note. Because rebuild letters are a matter of legal interpretation of city code for consideration by private counsel, the City of Fernley will not make any The subject property should front on a publicly dedicated and maintained street that meets community standards and is generally accepted by area residents. and (3) the use which is allegedly legal non-conforming. Fannie Mae customers! In communities across Michigan, there are many homes, businesses, and . These are often referred to as grandfathered in or grandparented in. Whey would they refuse to abide by the rules you state?" Residential lenders will not lend against properties that have commercial use. The appraisal must include the actual size of the site and not a hypothetical portion of the site for the subject property. Accessory Dwelling Units: emphasizing Highest and Best Use to determine property type of classification. Since its formation in 2006, JVM Lending has been committed to reinventing the mortgage lending model in order to provide outstanding service, low rates, and some of the fastest closing times in the industry. PDF Department of Licenses and Inspections the effective term of the agreement or covenant, which in most cases should be perpetual and binding on any future owners. endstream endobj startxref Neither my real estate agent or attorney nor the sellers agent have ever heard of a lender asking for a rebuild letter. border-radius: 4px; Any building or structure set up, erected, built or moved and any use of property contrary to the provisions of this title shall be and the same is hereby declared to be unlawful and a public nuisance. B. . Pray that this letter miraculously takes half the time it normally does. display: block; Ann. (or attach a legal description i.e. %PDF-1.7 If a property fronts on a street that is not typical of those found in the community, the appraiser must address the effect of that location on the value and marketability of the subject property. The information should not be seen as financial advice and you should consult with a licensed mortgage professional , prior to taking any action. .blog-banner-shortcode .new-buttons { 1850 Mt Diablo Blvd, Suite 140, owner to reconstruct the interior of a commercial garage, which was a non-conforming use under current zoning ordinances when it was damaged by a fire, without a site plan review; notwithstanding N.J. Stat. You can contact JVM Lendings team if you have any questions about property types, mortgage interest rates, or getting pre-approved for a home loan. Fannie Mae will only purchase or securitize a mortgage that represents the highest and best use of the site as improved. They regulate future uses of a property not existing ones. } For each PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the Both our New Hampshire Constitution and land use laws protect . background: #FBAE42; Private well or septic facilities must be located on the subject site, unless the subject property has the right to access off-site private facilities and there is an adequate, legally binding agreement for access and maintenance. a legal non-conforming (grandfathered) use, an illegal use under the zoning regulations, or. aqRu"24nY+w^Vkj]e2 2t8mFi11 background: #0B879A; feel free to email. The owners of the subject property must have the right to access those facilities, which must be viable on an ongoing basis. Improvements, and Since, Mr. Barta's retirement there has . It has only (1) Certificate of Occupancy recorded with the city of Los Angeles and that CofO says it's a legal 10 unit apartment building. Application For Non-Conforming Use: Fill & Download for Free } .blog-banner-shortcode ul li , you should consider: Joint and Several Borrowers with Multiple Properties, Subordination, Non-Disturbance and Attornment, Tenant Estoppel Certificate; Lease Modification, Acceptable Renewable Energy Generation Systems, Underwritten Net Cash Flow (Underwritten NCF), Property Previously Secured Bond Financing, Exception for Taxes, Assessments, or Other Lienable Items, Environmental Protection Lien Endorsement, Uniform Commercial Code (UCC) Financing Statements, Creating and Perfecting the Security Interest, General Insurance Applies to All Policies, Blanket and Other Policies Covering Multiple Properties, Business Income (including Rental Value) Insurance, Boiler and Machinery / Equipment / Mechanical Breakdown Insurance, Risk Retention Groups and Captive Insurance, Directors and Officers Liability Insurance, HPB Module, HPB Report, and Technical Solar Report Scoring, HPB Module, HPB Report, and Technical Solar Report Approval, Dependency and Medicaid Transition Reserve, Management, Operations, and Regulatory Compliance, Collateral; Tenant-Occupied and Affiliate-Owned Homes, Public Roadways, Private Interior Roadways, and Drives, Eligible Characteristics and Underwriting, Ineligible Characteristics and Underwriting, Affordable Regulatory Agreement Restrictions, Lien Priority and Title Insurance Policy, Additional Underwriting and Loan Documents, Properties with Both HAP Contracts and LIHTC Units, Transactions Funded with Tax-Exempt Bond Proceeds, Fannie Mae Credit-Enhanced Tax-Exempt Bond Issuance, Borrowers, Key Principals, Guarantors, and Principals, Lender FHA Risk Sharing Reserve and Loss Sharing Modifications, Cooperative Market Rental Basis NCF (Underwritten NCF), Cooperative Market Rental Basis DSCR (Underwritten DSCR), Small Mortgage Loan Underwritten NCF (Underwritten NCF), Site Inspection by Lender or Other Third Party, Prepayment Option 1 Declining Prepayment Premium Schedule, Prepayment Option 2 - 1% Prepayment Premium Schedule, Including the Cap Cost Factor in the Variable Underwriting Rate, Interest Rate Cap Contract Documentation and Delivery, Borrower, Guarantor, Key Principals, and Principals, Interest Rate Determination and Rate Lock, UCC Continuations, Amendments, and Terminations, Releasing/Reducing Letters of Credit or Other Collateral, Monthly Securitized Mortgage Loan Security Balance Reporting, Same Month Pooling Security Balance for First Reporting Cycle, Security Balances Due by Second Business Day, Monthly MBS Mortgage Loan Reconciliations - Pool-to-Security Balance Reconciliations (Not Applicable to PFP MBS), Required Annual Adjustment to Correct Principal Balance vs. Security Balance Difference, Pool-to-Security Reconciliation Certification, Adjustable Rate Mortgage Loan Interest Rate Changes and Required Monthly Payments, Monthly Reporting for ARM Loan Payment/Rate Changes, Delinquency Advances on a Mortgage Loan other than a Credit Enhancement Mortgage Loan, Delinquency Advances on a Credit Enhancement Mortgage Loan, Servicing Advances on a Mortgage Loan other than a Credit Enhancement Mortgage Loan, Servicing Advances on a Credit Enhancement Mortgage Loan, Duration of Payment of Delinquency Advances or Servicing Advances, Reimbursement for Delinquency and Servicing Advances, Repayment of Servicing Advances from Borrower, No Capitalization of Servicing Advances for Securitized Mortgage Loans, Monthly P&I Remittance Due Dates for Cash and MBS Transactions, Additional Requirements for Monthly Remittance for Security Transactions, Securitized Mortgage Loans Remitting Fees to Fannie Mae, Guaranty Fee Due on 7th Calendar Day of Month, Same Month Pooling Interest and Guaranty Fee Remittance for First Reporting Cycle, Notification to Fannie Mae if Unable to Have Funds Available on any Remittance Date, Review of Applicable Loan Documents Required, Notification of Prepayment; Timing of Prepayment, Notice and Timing Consistent with Loan Documents, Borrower Notice Must Contain Date of Intended Prepayment and Comply with Notice Requirements of the Loan Documents, Loan Document Requirements for Payoff and Lockout Dates, Notice to Fannie Mae of Proposed Payoff; Use of Fannie Mae Payoff Calculator, Timing of Confirmation of the Full Prepayment Payoff Amount, Full Prepayment for Cash Transactions and PFP MBS, Confirming the Full Prepayment Payoff Amount, Full Prepayment for Securitized Transactions (Not Applicable to PFP MBS), Fannie Mae Approval Required for Partial Prepayments, Prepayment Premium Due on Partial Prepayment, Reporting and Remitting Partial Prepayments When Not Permitted in Loan Documents, Reporting and Remitting Partial Prepayments When Permitted in Loan Documents, Reporting and Remitting Partial Prepayments, Yield Maintenance Prepayment Premiums Prepayment Occurs Before the Yield Maintenance Period End Date, Calculation of Investors Share of Total Prepayment Premium for a Securitized Mortgage Loan, Calculation of Fannie Maes Share of Total Prepayment Premium, Calculation of Servicers Share of Total Prepayment Premium, Yield Maintenance Prepayment Premiums Prepayment Occurs On or After the Yield Maintenance Period End Date, Prepayment On or After Yield Maintenance Period End Date, Fixed Rate Mortgage Loans with Graduated Prepayment Premiums, Prepayment Premiums for ARM Loans and Structured ARM Loans, Prepayment Premium Waivers; Servicers Share of Prepayment Premium, Servicer Notification of Payoff Amount to Borrower, Calculating and Obtaining Confirmation of Payoff Amount, Fannie Mae Will Not Confirm Nor Is Responsible for Amounts Owing to Servicer, Fannie Mae Confirmation of Full Payoff Amount, No Quote to Borrower Until Fannie Mae Confirmation, Reporting the Payoff and Remitting the Payoff Funds, Reporting Full Payoff Amount Through the eServicing System Due By 2nd Business Day of Month, Post Payoff Document Retention Requirements, Monthly Bond Credit Enhancement Reporting, Monthly Remittances of Scheduled Payments to Bond Trustee, Replenishment of Withdrawals from the PRF, Collection and Remittance of Borrower Reimbursement Obligations for Fannie Mae Advances, Notice and Collection of Other Fees and Expenses, Bond Redemption Premiums Payable to Bondholders, Termination Fee or Prepayment Premium Payable to Fannie Mae, Termination When No Prepayment Occurs; Weekly Variable Rate Transactions, Mortgage Loan Documents Must Permit Defeasance, Notifying the Internal Revenue Service about Abandonments or Acquisitions (IRS Form 1099-A), Notifying the Internal Revenue Service about Cancellations of Indebtedness (IRS Form 1099-C), Coordination with Reporting Abandonments or Acquisitions, Borrower's T&I Impositions and Custodial Accounts, Monitoring Compliance with Loan Documents, Servicer Certification When Fannie Mae Approval Is Not Required, Servicer Certification When Fannie Mae Approval Is Required, Submitting the Request for Subordinate Financing, Funds as Additional Security for Mortgage Loan, Waiver or Modification of Terms of Collateral Agreement, Achievement Agreement or Other Agreement for Additional Collateral, Draws on Letters of Credit or Application of Other Collateral, Releasing Additional Escrows for Principal and Interest, Taxes and Insurance, and Replacement Reserves, Completion/Repair Loan Document Amendments, Green Rewards Efficiency Measure Verification, Replacement Reserve Loan Document Amendments, Modifications to Replacement Reserve Deposits, When Replacement Reserve Funding Was Partially or Fully Waived, Items Eligible for Funding from the Replacement Reserve, Items Not Eligible for Funding from the Replacement Reserve, Return of Replacement Reserve Funds to Borrower, Alternative Funding of Replacement Reserves for Portfolio Mortgage Loans, Replacement Interest Rate Hedge and Notification, Replacement Interest Rate Hedge Documents and Follow Up, No Financing for Property and Liability Insurance Premiums, Flood Map Changes; Obtaining Flood Insurance, Servicers Administrative Costs and Expenses, Required Casualty Loss Property Inspection, Documentation for Required Casualty Loss Property Inspections, Endorsement of Insurance Loss Draft or Check When Payable to Fannie Mae, Endorsement of Insurance Loss Draft or Check When Not Payable to Fannie Mae, Insurance Loss Draft or Check Not Payable to Either Fannie Mae or Servicer, Borrowers Failure to Diligently Pursue Repair, Decisions Delegated by the Delegated Transaction Form 4636 series, Supplemental Mortgage Loans Not Permitted, Decisions and Actions Delegated and Not Delegated, Seniors Housing Expansion/Conversion Requests, Request Changes in Unit Count/Mix in the MAMP, Bond Transactions and Credit Enhancement Mortgage Loans, Compliance Issues Relative to Bond Credit Enhancement Transactions, Monitoring Compliance; Notification of Noncompliance, Default Notice for Failure to Comply with the Bond Documents, Multifamily Affordable Housing (MAH) Properties, HAP Contract Approval and Releasing Restabilization Reserve, Quarterly Financial Analysis of Operations, Borrower Fails to Provide Guarantor Financial Reports, Lender Tenders for Minor or Immaterial Defaults, Definition of Non-Performing Mortgage Loan, Partial Payments by Borrower Do Not Change Date of Default, Timing for Imposition of Late Charges and Default Interest, No Deduction for Late Charges or Default Interest, Enforceability of Late Charges and Default Interest, Notice to Fannie Mae of Performance Default, Full Payment After Expiration of Period Before Assessing Late Charges, Copies of Letters Sent to Borrower; Correspondence with Borrower, Funding Capital Repairs During Default Resolution, Documenting the Property Management Change, Servicer Performs Loss Mitigation Actions, Servicer Workout Action Template (SWAT), Fannie Mae Performs Loss Mitigation Actions, Election and Implementation of a Course of Action, Course of Action Lender Purchase of Mortgage Loan, Course of Action Lender Workout Election, Documentation and Terms of Lender Workout, Lender Workout Has No Impact on Loss Sharing or Recourse Obligation, Servicer Makes Delinquency Advances But Fails to Report Mortgage Loan Delinquent, Foreclosure Process Continues Unless Otherwise Agreed to by Fannie Mae, Delinquency Advances Must Be Made During Negotiation of Joint Workout, Modification, Extension, and Forbearance Fees, Management of Property Post Title Vesting in Fannie Mae, Course of Action Note Sale Election or Discounted Loan Payoff, Note Sale and Discounted Loan Payoff Defined, Any Note Sale or Discounted Payoff Gives Rise to Loss Sharing Event, Note Sale Secondary Risk Mortgage Loans, Discounted Loan Payoff - Secondary Risk Mortgage Loans, Calendar Days 31 through 60 after a Payment Default or Performance Default, No Disclosure of Lenders Contract Terms to Borrower; Borrower Not a Third-Party Beneficiary of Lender Contract, Asset Audits for Secondary Risk Mortgage Loans, Special Requirements for the Environmental Assessment, Appraisal Notice and Election of Appraisal Methodology.